Source - SMW
Ortac Resources' directors continue to examine all options to maximise value for shareholders, including a potential corporate restructuring.

In a corporate update, the company said chairman Anthony Balme was stepping down and would be succeeded by non-executive director Nick von Schirnding.

Non-executive director Paul Heber was retiring, a successor to be announced.

"Following the plan to develop the Slovakian project with a local JV partner, the Company will now strengthen and accelerate the development of Ortac's core African investments," it said in a statement.  

"In this regard, Ortac CEO, Vasillios Carellas, will focus in the near-term on supporting the development of  Casa's Misisi gold project, where the first phase of a major diamond drill program is about to commence."

Ortac also gave pen portraits of its investments in Casa Mining, Zamsort Ltd and Andiamo Exploration Ltd.

"The board continues to examine all options to maximise value for shareholders, including a potential corporate restructuring. Further updates will be made as appropriate," said Ortac.